In early 2025, Reward completed the strategic acquisition of the Beyondie Potash Plant (BPP), associated administration and operations offices, and other minor infrastructure. Site security was installed, and the facility has since been maintained under continuous supervision by full‑time managers. This has enabled multiple site visits by third‑party engineers and financiers assessing opportunities to partner with Reward in further studies for potash production, either at the existing location or following potential relocation of the plant to treat reject brines from seawater solar salt operations.
The acquisition price represents a small fraction of the replacement cost of the assets, which are located approximately 160 km south‑east of Newman in Western Australia. These assets formed part of the former Beyondie Potash Project, which was constructed between 2020 and 2022 and operated by Kalium Lakes Ltd (ASX: KLL) until the appointment of Administrators and Receivers‑Managers in August 2023.
Since acquisition, Reward has actively engaged with multiple third‑party seawater solar salt producers, potash developers, fertiliser groups, and chemical companies with the objective of securing a strategic partner to support redevelopment of the BPP. While discussions have progressed over an extended period and remain ongoing, Reward remains confident that a suitable strategic partnership will be established to realise the value of this opportunity.
To protect its interests in the BPP, Reward entered into a tenement sale agreement with the private owners of the first‑in‑time Exploration Licence Application E69/4247. The application covers part of the former Mining Lease M69/145 associated with the original Beyondie Potash Project and includes the BPP site and key potash production infrastructure, such as evaporation ponds, brine recovery trenches, bores, salt stockpiles, and portions of the historic brine resource area.
Reward considers this licence application to be strategically important for a potential project restart. Most of the existing production infrastructure is capable of being recommissioned, and the previously defined brine resources are believed to remain in situ.
Reward believes that the most cost-effective development path for a new operation at Beyondie is to reconfigure the first stage evaporation pond system and to improve the processing flowsheet by implementing Reward’s proprietary technology. These steps would avoid the use of mechanical harvesting and stockpiling of waste salts and the use of earlier processing techniques, being the key reasons the original operation was unsuccessful.
